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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Mark Davis who wrote (4761)	10/6/1999 10:58:00 PM
From: Leland Charon	Respond to of 18137

Mark, You bring up some very interesting points regarding trading the spoos as opposed to trading stocks. When I trade stocks sometimes it feels like I am trading (10) different markets. Sometimes it can be very frustrating when you are long a stock and you watch the market take off and your stock does nothing. I have been focusing on trying to be in the "right" stocks so that I don't miss the boat. I'm just trying to be where the action is. I do understand your frustration though. Leland

To: Mark Davis who wrote (4761)	10/7/1999 12:57:00 AM
From: Paul Viapiano	Read Replies (2) \| Respond to of 18137

Mark, Your comments re: Theresa at Intelligent Speculator are right on the money. She's patient and waits for her setups before entering. We've all read books on high-probability patterns but many of us still are "swingers". That's what she calls them. Someone who just takes a swing somewhere in the chart...no top or bottom tests, support/resistance, or moving average stuff. God knows how many times I "swung" and struck out. Many traders think they have to be doing something every moment. I liken trading to fishing...most of the time you just sit back and wait for a nibble. Remember that post from the early days of this thread (I can't remember who authored it) about the young mom who popped in to watch him daytrade. She was amazed (after hearing so much about daytrading) that he mostly sat around waiting for setups. I think that if traders waited more for the right setups they would lose a lot less... The Intelligent Speculator website is probably the most valuable site on my Favorites list right now. I can't tell you how much I've learned about price action...BTW I trade stocks exclusively, no futures. Paul